SDLookup.com > 7760 Highwood Ave

Anonymous 9/11/2007 4:42:19 PM

Looks like the days of $1m tract homes in La Mesa/Spring Valley area are over. This one is going to be at least a 25% loss.

Anonymous 9/11/2007 5:17:00 PM

that's a big whopper of a loss.
50% loss might be in the cards.

Anonymous 10/4/2007 12:52:22 PM

List Price: $750,000
MLS#: 076009343

Price Reduced: 09/25/2007 from $759,900 to $750,000
Price Reduced: 09/19/2007 from $789,900 to $759,900
Price Reduced: 09/11/2007 from $850,000 to $789,900
Price Reduced: 07/28/2007 from $932,000 to $850,000
Price Reduced: 05/19/2007 from $950,000 to $932,000
Price Reduced: 03/03/2007 from $1,100,000-$1,200,000 to $950,000-$950,000

Anonymous 10/4/2007 1:01:24 PM

Definitely a flipper who got in over her head.

Parcel Number: 475-632-20-00
Original Defaulted Parcel Number: 869-354-58-96
Owner Name: xxx
Account Summary
Defaulted Amount: 11,178.06
Redemption Penalties: 608.00
Redemption Fees: 15.00
Returned Check Fees: 0.00
Tax Sales Fees: 0.00

Other Fees: 0.00
Total Due: 11,801.06

Anonymous 10/4/2007 1:02:42 PM

Defaulted taxes are sure sign of things to come. Local government better start to tighten the belt. The coming recession will see government works get laid-off as well.

Anonymous 10/12/2007 1:48:12 PM

price dropped down to $735,000 today. Funny that the bank still hasn't foreclosed- but I suspect they figure they won't be any better at unloading it than this seller. I am actually surprised this hasn't sold since its so far below original sale price and similar current listings. Tells me that there is effectively a buyers strike going on.

Anonymous 10/12/2007 2:50:40 PM

List Price: $735,000
MLS#: 076009343
29% off so far.

Jimbo 10/12/2007 7:38:38 PM

Why would somebody want a farm house style home in San Diego? Also for as much sq ft as they state for the house, the rooms seem small.

Anonymous 10/13/2007 9:17:40 PM

Another price reduction. This seller is chasing the market down. Had they reduced one big chuck at the beginning, this would have been sold.

$184/sf is looking like a deal but I think prices will continue down to about $120/sf with plenty of choices at that time.

Listing Price Changes
Price Reduced: 10/12/2007 from $750,000 to $735,000
Price Reduced: 09/25/2007 from $759,900 to $750,000
Price Reduced: 09/19/2007 from $789,900 to $759,900
Price Reduced: 09/11/2007 from $850,000 to $789,900
Price Reduced: 07/28/2007 from $932,000 to $850,000
Price Reduced: 05/19/2007 from $950,000 to $932,000
Price Reduced: 03/03/2007 from $1,100,000-$1,200,000 to $950,000-$950,000

Anonymous 11/5/2007 2:33:44 PM

There was an auction on 11/1. Guess the lender was the high bidder. Don't understand the logic here. They couldn't sell it for 735K before so they raise it to 850K. The builder still has about 30 homes to sell in the project (including 9 models). They sold 0 in Oct, but will only discount prices a very small 3-5% from previous prices. On the good side this is the only house listed for resale in the entire 200 home community. Last resale was in Aug, 3100 sq ft went for 800K (bought for 860K one year earlier from the builder), but that was before the subprime meltdown.

Anonymous 11/5/2007 2:37:55 PM

I am pretty sure the foreclosure process calls for the minimun bid to be the outstanding value of the mortgage. They in essense "pay themselves" off.

I'm not expert but that seems to make sense and is what I've observed watching the market. Look for it to come back as an REO in 2-4 weeks.

anon 11/5/2007 3:54:37 PM

So the bank finally lost patience with the short sale process. Guess it was when they realized they owner wasn't going to pay the taxes. I hope they don't expect to get a better price.

And there are 6 or 7 resales in the area. Look at 91941 houses with a $260 hoa. Plus there are the ones the developer needs to unload. Basically every buyer there is underwater.

Anonymous 11/5/2007 4:49:53 PM

The NOD and NOT process is quite clear. You have three months to get the default cured our it's going into foreclosure. You can try and get a workout plan be it a short sale or change in terms, if you don't it's going back to the lender.

Betty 11/5/2007 5:27:11 PM

These houses are very cheaply built, just look at the kitchen alone.
I wouldn't pay a dime over $ 500,000 for it.

Anonymous 11/5/2007 5:34:25 PM

The neighborhood is good location fairly close to Downtown on the 94. But La Mesa is not best area.

I wouldn't pay more than $500k either.

anon 11/5/2007 6:13:07 PM

This place may not be everyone's idea of a perfect home, but there was a wait list when this neighboorhood opened because it is the only new community in this pretty central location, and there are good views from lots of the homes.

What amazes me is that we had a wait list of people to buy at $1m in 2005, and now NO ONE will by one at $735,000. Times have really changed.

Anonymous 11/5/2007 6:49:39 PM

Interesting neighborhood.. I think that we'll easily see 50% reduction from the peak when all is said and done.

denglish 11/19/2007 11:21:28 AM

Its back. . . .
Looks like the lender may not have foreclosed.
Price is actually up $5,000 from the last listing.

Brian 11/19/2007 1:28:05 PM

List Price: $740,000
MLS#: 078089244

Let's watch and see... patience my friends. :)

vision 1/24/2008 4:13:55 PM

SOLD $742,500. Why???? This homes value will go much lower. Oh well!!!!!

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